Properties in the St Albans local authority area have been found to have the second most expensive square footage outside of London.

Zoopla analysed figures from Hometrack to reveal the average price per square foot of properties across Britain, as well as the rate at which these values have grown over the past five years.

The average British property now costs £211 per square foot, an increase of 26 per cent (£44) since 2012.

In St Albans, the average was up 41 per cent to £489 per square foot, behind Elmbridge, Surrey’s 36 per cent rise to £495.

Stevenage had the second highest growth of any local authority outside London over the past five years, up 59 per cent to £282.

Welwyn Hatfield was next with a 57 per cent change to £379, followed by Luton (up 57 per cent to £260). Slough topped this list, with growth of 64 per cent to £374.

Kensington and Chelsea has the most expensive square footage in the country at £1,382, while Blaenau Gwent in South Wales offers the most space for your money at just £79 per square foot.

The news wasn’t great for homeowners in Hartlepool, County Durham, where prices per square foot have decreased by 7 per cent since 2012 to £102.

East London’s Newham, home to the Olympic Park, had the sharpest five-year increase at 86 per cent, taking the average price per square foot to £422.

Lawrence Hall, spokesperson for Zoopla, said: “The home counties have performed very well since 2012 in addition to some London boroughs. However, if you’re looking to maximise the amount of space possible on a budget, you should look to the midlands and north to ensure best value for money.”

When it comes to commercial property, what does central St Albans really need? Retail fans have been lobbying for a John Lewis or a Primark for many a long while, but what we keep getting is coffee shops, more coffee shops and, occasionally, a restaurant. Oh, apart from now we’re also getting a gym.